Shiva cement Limited has announced the re-appointment of Mr. Manoj Kumar Rustagi as Whole-time Director and CEO for an extended three-year term. The decision was approved by the company's board of directors during their meeting held on March 23, 2026.

Board Approval and Regulatory Compliance

The board of directors, acting on the recommendation of the Nomination and Remuneration Committee, approved Mr. Rustagi's re-appointment for a period of three years with effect from June 26, 2026, to June 25, 2029. The re-appointment is subject to approval from the company's shareholders.

The announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency in corporate governance matters. The company has also referenced SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, in providing the necessary regulatory disclosures.

Leadership Profile and Experience

Mr. Manoj Kumar Rustagi brings extensive experience to his continued role as CEO. He has been associated with Shiva Cement Limited since February 28, 2017, and currently serves as Chief Sustainability Officer of JSW Cement Limited, the holding company.

His educational background includes:

• Bachelor's degree in engineering from the Birla Institute of Technology & Science
• Post graduate programme in Management from the Indian School of Business

Professional Background

Mr. Rustagi has accumulated 30 years of experience across multiple sectors, with particular expertise in cement and steel manufacturing and information technology. His previous associations include:

• IBM India Private Limited
• Jindal Steel & Power Limited
• Jindal Strips Limited
• Satyam Computer Services Limited

In his current capacity, he is responsible for sustainability, research and development functions, contributing significantly to strategic initiatives and new business development.

Corporate Governance and Documentation

The company confirmed that Mr. Rustagi is not debarred from holding the office of Director by virtue of any order of Securities and Exchange Board of India or any other authority. The formal communication was signed by Ishika Sharma, Company Secretary & Compliance Officer (ACS: 70573), and includes digital signatures for authentication.

The detailed disclosure document, including Annexure A with comprehensive director profile information, has been made available on the company's website at https://shivacement.com as part of their commitment to transparency and regulatory compliance.

JSW Cement Limited has filed a regulatory disclosure regarding its increased shareholding in Shiva Cement Limited, as required under SEBI's Substantial Acquisition of Shares and Takeovers (SAST) Regulations, 2011.

Share Acquisition Details

The acquisition involved the purchase of 48,628 equity shares of Shiva Cement Limited through open market transactions on February 4, 2026. This represents 0.0165% of the total share capital of the target company.

Shareholding Position

Following this transaction, JSW Cement Limited's total shareholding in Shiva Cement Limited has increased to 66.23%. The company's position as a promoter entity in Shiva Cement remains strengthened through this acquisition.

Company Information

Shiva Cement Limited, incorporated in 1985, operates from Village Telighana, PO: Birangatoli, Tehsil-Kutra, District-Sundargarh, Odisha. The company's equity shares are listed on BSE Limited under scrip code 532323.

The target company maintains a total equity share capital of 29,50,00,000 shares with a face value of Rs. 2.00 each, amounting to Rs. 59,00,00,000. This capital structure remained unchanged following the acquisition.

Regulatory Compliance

The disclosure was filed by Sneha Bindra, Company Secretary of JSW Cement Limited (ACS-29721), on February 5, 2026. The filing ensures compliance with Regulation 29(2) read with Regulation 29(3) of the SEBI SAST Regulations, which mandate disclosure of substantial acquisitions by promoter entities.

JSW Cement Limited confirmed its status as belonging to the Promoter/Promoter group of Shiva Cement Limited in the regulatory filing. The acquisition further consolidates the promoter's control over the cement manufacturing company.